Statement from the 8th Meeting of the Bank Board of the NBS
The 8th Meeting of the Bank Board of Národná banka Slovenska was held on 13 February 2007 chaired by Ivan Sramko, Governor.
The Bank Board decided on the current account audit of the balance of payments for 2003 and 2004 on the basis of new data from annual reports on foreign direct investments.
Having included data on the reinvested profit and revised data on dividends and interests, the rate of current account deficit for the Slovak Republic GDP will be increased by SKK 62.3 billion for the year 2003 (5.1% GDP) and by SKK 57.7 billion for the year 2004 (4.3% GDP), of which the net influence of reinvested profit represents the value of SKK 54.2 billion for 2003, (4.5 % GDP) and by SKK 49.5 billion for 2004 (3.7%).
The reason for the current account audit of balance of payments is particularly in order to adjust the data on the reinvested profit. The current account audits are in compliance with the international standards which are the basis for the surrounding countries´ practices.
The revised data will be published on 19 February on the NBS´s web site in the section Data categories of SDDS/Balance of Payments. A more detailed information on the current account audit of the balance of payments, as well as the comparison with current accounts development in the surrounding countries, shall also be published on the NBS´s web site in the section Publications/Other NBS documents/Monetary Policy related publications.
Spokesman of the NBS
National Bank of Slovakia
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, 421-2-5865 2166
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